Tikehau, BlueMountain Fuji close on new deals in firms’ first European CLOs of year

By Cristal Cody

Tupelo, Miss., Sept. 4 – Two CLO managers closed Tuesday on new European CLO deals that priced over the summer.

Tikehau Capital Europe Ltd. sold €411.8 million of notes in the firm’s first euro-denominated CLO transaction this year. Tikehau was last in the primary market in 2017 with the €435.15 million Tikehau CLO III BV deal.

BlueMountain Fuji Management, LLC priced €359.45 million of notes in its new CLO deal that settled on Tuesday. BlueMountain Fuji Management last issued a euro-denominated CLO on June 28, 2017, the BlueMountain Fuji EUR CLO II DAC deal.

In its deal, Tikehau Capital Europe sold €411.8 million of notes due Oct. 15, 2031 in the new CLO offering, according to a market source.

Tikehau CLO IV BV priced the €231 million of class A-1 senior secured floating-rate notes at Euribor plus 90 basis points.

Merrill Lynch International arranged the offering that closed on Tuesday.

Meanwhile, BlueMountain Fuji Management priced €359.45 million of notes due Jan. 15, 2031 in the issue that closed on Tuesday, according to a market source.

In the offering, BlueMountain Fuji EUR CLO III DAC sold €207 million of class A-1 senior secured floating-rate notes at Euribor plus 90 bps at the top of the capital structure.

Barclays was the placement agent.

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